In the words of George Harrison:
Let me tell you how it will be,
There’s one for you, nineteen for me,
‘Cos I’m the Taxman,
Yeah, I’m the Taxman.
Should five per cent appear too small,
Be thankful I don’t take it all.
‘Cos I’m the Taxman,
Yeh yeh, I’m the Taxman.
Source: Wall Street Journal
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{ 3 comments… read them below or add one }
I’m getting a tax break, and so is my restaurant. Poster must already be fairly wealthy so I have little empathy for them.
Joe, please explain the actual tax break you are speaking of. Seriously, we’d like to know. And are you a sole proprietorship, LLC, corporation? Curious also if you feed the homeless or perhaps “fairly wealthy” people who will have less pocket change in the future as Obama seeks new taxes.
I’m sorry about your antipathy towards “fairly wealthy” people. I hope you don’t become one or you won’t like yourself very much. But, if your restaurant does well, please let us all know so we can eat elsewhere because we’ll have little empathy for a fairly wealthy person like you.
Unlike Joe I want to clarify which tax breaks he and his customers are getting and from whom:
Could it be the Cal State Sales Tax that’s going 4/1 from 7.25% to 8.25%,; the personal Cal State income tax that is 9.6% on lower amounts and an additional 1% if you are sucessful; or when you sell your restaurant for retirement that he will probably have to pay ordinary income rates for Cal. at 10.6% and in Barrack’s new tax at probably 25% for 35.6% (that seems fair to me for a person that has provided jobs for 30 years…kind of stimulating for the economy); or the utility tax imposed by the state, or the various user fees when he applies for an addition to his business (i.e. health dept.,building dept., traffic mitigation fees, etc.); or the fines imposed for all sorts of “stuff”. I know it must be the “Messiah’s” “proposed” breaks that he talking about and hasn’t even gotten. If Joe is really a restaurant owner he know’s what all restaurant owners know that his waitresses aggregate tip make far more than he does from the restaurant. Of the “kicker” if he’s luckly he will be visited by a con man in a wheel chair that goes from restaurant to restaurant trying to find a handrail that’s a 1/4″ off so you can get sued under that “enlightened’ law known as ADA. It get’s better, if you comply with the state ADA law you probably violate the Fed. Oh Joe, your world perception is a little different than mine.